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Revenues for the fiscal year 2011 were $54.6 million compared with $47.2 million for the prior year, up 16 percent. Adjusted EBITDA for 2011 was $14.6 million, versus $14.0 million in 2010. Net revenues for the fourth quarter of fiscal 2011 were $14.0 million compared with $13.1 million for the prior year, up 7 percent. Adjusted EBITDA for the fourth quarter 2011 was $3.6 million, versus $3.7 million in 2010. On a GAAP basis, the Company reported a net loss of $45.4 million for 2011, compared to a net loss of $1.9 million for 2010, and a net loss of $0.8 million for the fourth quarter 2011, compared to a loss of $2.2 million for the 2010 fourth quarter.

Fiscal 2011: Continued Growth in Revenues and Adjusted EBITDA

"Our fourth quarter and fiscal year performance reflect improving bottom-line results and the 17thstraight quarter of year over year revenue growth for the Company," said Sean McDevitt, chairman and chief executive officer of InfuSystem. "During the quarter, we continued to increase revenue, generated substantial free cash flow and improved the Company's overall financial profile, positioning InfuSystem to deliver improved results in 2012. With the continued steady growth of our core business, we are more confident than ever in the long-term outlook for the Company and industry."

"As we continue to execute on our business plan, InfuSystem's Board of Directors also continues to thoroughly explore and evaluate potential strategic alternatives for the Company, which may include a sale or other transaction. The Company will continue to operate in the ordinary course during its review of strategic alternatives," concluded Mr. McDevitt.

Revenues for fiscal 2011 were $54.6 million, up 16 percent from $47.2 million in 2010. The increase in revenues is primarily due to obtaining business at new customer facilities, increases from existing customers and expansion into new product lines, such as those associated with acquisitions made during the previous year.

Gross profit for fiscal 2011 was $35.4 million, up 5 percent from $33.5 million in the prior year. This total represents 65 percent of revenues for the year, compared with 71 percent in fiscal 2010.

Selling, general and administrative expenses (SG&A) were $101.7 million versus $34.5 million in the prior year. Excluding a non-cash impairment charge of $67.6 million, SG&A for fiscal 2011 was $34.1 million compared to $34.5 million in the prior year and 62% of revenues compared to 73% in the prior year.

Other loss for 2011 was $2.2 million compared to $2.3 million for 2010, reflecting reduced interest expense, lower gains on derivatives and no gain on extinguishment of long term debt. As a result, the Company reported a fiscal 2011 net loss of $45.4 million, or a loss of $2.16 per diluted share, versus a $1.9 million net loss, or a loss of $0.09 per diluted share, for 2010.

Adjusted EBITDA for 2011 was $14.6 million, up 5 percent from $14.0 million in 2010. The Company utilizes Adjusted EBITDA as a means to measure its operating performance. A reconciliation from Adjusted EBITDA, a non-GAAP measure, to net income can be found in the appendix.

Fourth Quarter

Revenues for the latest quarter were $14.0 million, up 7 percent from $13.1 million in the prior year period. Gross profit was $8.1 million versus $9.0 million in the fiscal 2010 fourth quarter. SG&A decreased 27 percent to $8.8 million from $12.0 million. Other expense for the fourth quarter was $0.5 million, compared with $0.4 million in the prior year period. The Company reported a net loss for the fourth quarter of $0.8 million, or a loss of $0.04 per diluted share, versus the prior year quarter's net loss of $2.2 million, or a loss of $0.11 per diluted share. Adjusted EBITDA for the fourth quarter was $3.6 million versus $3.7 million for the prior year period.

Financial Condition

Net cash provided by operations for fiscal 2011 was $7.2 million versus $10.8 million for 2010. The company spent $4.2 million on capital expenditures, primarily for new pumps, in the current year versus $2.4 million in fiscal 2010 and paid $16.6 million in cash for the acquisition of First Biomedical in June 2010. The Company ended the year with a cash balance of $0.8 million, with $22.6 million in long-term debt, net of current, versus $26.6 million in long-term debt in the prior year.

Auditor's Opinion

An activist stockholder group consisting of Kleinheinz Capital Partners, Meson Capital Partners, Boston Avenue Capital and certain of their affiliates (the "Kleinheinz Dissident Group") is seeking to gain control of the Board of Directors of the Company. If the Kleinheinz Dissident Group were to be successful in obtaining control of the Company's Board of Directors, the resulting change in control would constitute an event of default under the Company's Credit Facility with Bank of America, N.A., and KeyBank National Association. This would allow the lenders to accelerate the maturity of all debt outstanding under that agreement. Given there is some level of risk that there could be changes to the existing Board of Directors, the Company's auditors, Deloitte & Touche, LLP, are required under auditing standards to include an explanatory paragraph related to a going concern in the audit opinion on the Company's 2011 results for this sole reason. The Company obtained a waiver as of December 31, 2011 for the going concern audit opinion as this is also an event of default under the terms of the credit facility with the lenders. The Company is in compliance with all other bank covenants and has a strong financial condition and cash flow.

Conference Call

InfuSystem Holdings, Inc. will host a conference call to share the results of its fourth quarter and full-year fiscal 2011 results on Thursday, March 15, at 10:00 a.m. Eastern Time. Chairman and Chief Executive Officer Sean McDevitt and Jim Froisland, Chief Financial Officer, will discuss the Company's financial performance and answer questions from the financial community.

The Company invites interested investors to listen to the presentation, which will be carried live on the company's Web site www.infusystem.com in the Investors section. To participate by telephone, the dial-in number is 800-447-0521 with confirmation number 31586969. Those who wish to listen should either dial in or go to the Web site several minutes prior to the call to register. A replay of the call can be accessed by dialing 888-843-7419, passcode 31586969#. An online archive of the conference call will remain on the Company's Web site for the following 30 days.

About InfuSystem Holdings, Inc.

InfuSystem Holdings, Inc. is the leading provider of infusion pumps and related services to hospitals, oncology practices and other alternate site healthcare providers. Headquartered in League City, Texas, the company delivers local, field-based customer support, and also operates Centers of Excellence in Michigan, Kansas, California, and Ontario, Canada. The Company's stock is traded on the NYSE Amex under the symbol INFU.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include general economic conditions, as well as other risks, detailed from time to time in the company's publicly filed documents.

Additional information about InfuSystem Holdings, Inc. is available at www.infusystem.com.

FINANCIAL TABLES FOLLOW

InfuSystem Holdings, Inc. Fourth Quarter, Fiscal 2011 Results

INFUSYSTEM HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

December 31,

December 31,

(in thousands, except share data)

2011

2010

ASSETS

Current Assets:

Cash and cash equivalents

$ 799

$ 5,014

Accounts receivable, less allowance for doubtful accounts of $1,773 and